Larry Ellison, the co-founder of Oracle, has witnessed a staggering loss of over $47 billion in personal wealth in less than a week, as the company’s shares continued their downward spiral ahead of its quarterly earnings report. According to Forbes' Real-Time Billionaires List, Ellison's fortune plummeted from approximately $296 billion last Tuesday, June 2, to around $249.7 billion. This sharp decline comes amid a broader selloff in technology and artificial intelligence-related stocks, as investors pull back from the sector. The Oracle founder has now slipped from the world's second-richest person to fifth place on the billionaire rankings.
Why Larry Ellison lost over $47 billion in less than a week
Oracle shares fell more than 4% on Tuesday, June 9, extending their losses to about 17% over the past week. The stock's decline weighed heavily on Ellison's net worth, as he owns roughly 41% of Oracle. Tuesday's drop alone reduced his fortune by an estimated $10.4 billion. According to Forbes, Ellison now trails Amazon founder Jeff Bezos, Google co-founders Sergey Brin and Larry Page, and the world’s richest individual, Elon Musk.
The broader technology sector also came under pressure, with shares of companies including Marvell, AMD, Micron, Apple, and Nvidia all declining during Tuesday's trading session. Oracle is scheduled to report quarterly earnings after the market closes on June 10. Analysts expect the company to post earnings of $1.96 per share on revenue of $19.1 billion, representing year-over-year growth of 15% and 20%, respectively.
Investors eye Oracle's order backlog
Investors will also be closely watching Oracle's order backlog. Analysts anticipate the company to report backlog orders worth approximately $661 billion, up from $553 billion reported in March. This figure would be larger than the market value of many major companies, including Oracle itself, and even exceed the annual economic output of several countries.
Larry Ellison’s wealth rose in the last year over AI optimism
Ellison's wealth had surged in recent years amid demand for AI infrastructure and cloud computing, boosting Oracle’s business and stock price. Last year, he became the second person to cross the $400 billion net worth mark after Elon Musk. The rally was driven by investor excitement over Oracle’s AI-related growth plans and forecasts for rapid growth in its cloud infrastructure business. However, Oracle shares have fallen nearly 41% from their peak reached in September 2025, as some investors have become more cautious about AI-related stocks.
